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    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
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    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
    Show AI Summary
    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
    Show AI Summary
    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
    Show AI Summary
    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
    Show AI Summary
    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
    Show AI Summary
    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
    Show AI Summary
    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
    Show AI Summary
    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.

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      US, Ukraine report making progress toward ending Russia-Ukraine war but provide scant details

      November 24, 2025

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      Geneva, Nov 24 (AP) Top US and Ukrainian officials said Sunday they were making progress toward ending the Russia-Ukraine war but provided scant details as they discussed the American proposal to achieve peace despite concerns among many of Washington's European allies that the plan was far too conciliatory to Moscow.

      US Secretary of State Marco Rubio said high-stakes talks in Geneva were “very worthwhile” and constituted the most productive day in “a very long time” on larger efforts to end the fighting.

      “I feel very optimistic that we can get something done," Rubio said.

      But he offered very little information on what was discussed, allowing only that discussions would continue on Monday and perhaps deeper into the week. He also suggested that Europe's role and responsibilities as spelled out under the US peace plan might be separated from facets more directly involving the responsibilities of Russia and Ukraine.

      And Rubio noted that any final product, once it's ready, will still have to be presented to Moscow: “obviously, the Russians get a vote here." Rubio's attempt to strike such a positive tone while offering no evidence of a breakthrough constituted a more nuanced approach than Trump himself. Before talks even really began, the president blasted Ukraine for a lack of gratitude for US military assistance, while shying away from criticizing Russia.

      Trump has set a Thursday deadline for Ukraine to respond to the plan. But he also has suggested that could slide if there was proof of real progress and that the plan was not his final offer. Rubio also undermined the idea that the deadline was looming, saying simply that officials want to see fighting stop as soon as possible.

      Some American and European supporters of Ukraine have panned the plan as too favourable to Moscow. Questions intensified after a bipartisan group of US senators said Rubio told them Saturday that the plan had originated with Russia and was actually a “wish list” for Moscow, rather than a serious push for peace.

      The head of the Ukrainian delegation, presidential chief of staff Andrii Yermak, also confirmed an initial session of talks had concluded and that a second meeting would soon take place.

      “I want to confirm that we had a very productive first session with the distinguished American delegation. We have made very good progress and are moving forward to a just and lasting peace,” he said.

      “Very soon today the second meeting will take place, where we will continue to work on joint proposals with the engagement of our European partners. Final decisions will be taken by our Presidents.” Before the meeting even began, however, Trump suggested he didn't expect much.

      He posted on his social media site that: “UKRAINE LEADERSHIP' HAS EXPRESSED ZERO GRATITUDE FOR OUR EFFORTS, AND EUROPE CONTINUES TO BUY OIL FROM RUSSIA.” After Trump's post, Ukrainian President Volodymyr Zelenskyy cheered U.S.-led efforts on security while also stressing that “the crux of the entire diplomatic situation is that it was Russia, and only Russia, that started this war.” “Ukraine is grateful to the United States, to every American heart, and personally to President Trump,” Zelenskyy wrote in a post on Telegram, adding, We thank everyone in Europe." “It is important not to forget the main goal – to stop Russia's war and prevent it from ever igniting again.” Ukraine and allies have ruled out territorial concessions ----------------------------------------------------------- The 28-point blueprint drawn up by the US to end the nearly four-year war has sparked alarm in Kyiv and European capitals. Zelenskyy has said his country could face a stark choice between standing up for its sovereign rights and preserving the American support it needs.

      The proposal, originating from negotiations between Washington and Moscow, acquiesces to many Russian demands that Zelenskyy has categorically rejected on dozens of occasions, including giving up large pieces of territory.

      The Ukrainian leader has vowed that his people “will always defend” their home.

      Before convening with US officials, Yermak and his team also met with national security advisers from the UK, France and Germany. The allies have rallied around Kyiv in a push to revise the plan, which is seen as favouring Moscow.

      Speaking before Sunday's talks, Alice Rufo, France's minister delegate at the Defense Ministry, told broadcaster France Info that key points of discussion would include the plan's restrictions on the Ukrainian army, which she described as “a limitation on its sovereignty.” “Ukraine must be able to defend itself,” she said. “Russia wants war and waged war many times in fact over the past years.” On Sunday, Zelenskyy said that there was an understanding the US would take into account “a number of elements” in a peace deal that are important for Ukraine, but did not elaborate further.

      “There have already been brief reports from the team about the results of the first meetings and conversations,” he said. “There is now an understanding that the American proposals may take into account a number of elements based on the Ukrainian vision and are critically important for Ukraine's national interests.” Trump hasn't clarified his comment on Saturday that the US proposal wasn't his final offer.

      “I would like to get to peace. It should have happened a long time ago. The Ukraine war with Russia should have never happened,” Trump told reporters outside the White House on Saturday. “One way or the other, we have to get it ended.” Rubio's reported comments cause confusion ----------------------------------------------- Polish Prime Minister Donald Tusk said Sunday that Warsaw was ready to work on the plan with the leaders of Europe, Canada and Japan, but also said that it “would be good to know for sure who is the author of the plan and where was it created." Some US lawmakers said Saturday that Rubio had described the plan as a Russian “wish list” rather than a Washington-led proposal. A US State Department spokesperson said that account was “blatantly false.” Rubio took the extraordinary step of suggesting online that the senators were mistaken, even though they said he was their source for the information.

      The top Democrat on the US Senate Intelligence Committee, Sen Mark Warner told ABC's “This Week” on Sunday, thatthe peace plan appeared to be “almost a series of Russian talking points,” had made Europeans “feel like they've been totally left high and dry” and had led to “ferocious pushback.” Possibility for additional talks -------------------------------- Turkish President Recep Tayyip Erdogan announced that he would hold a phone call with Russian President Vladimir Putin on Monday. He said he would talk to the Russian leader about reviving a previous deal from July 2022 that allowed Ukraine to safely ship exports of grain via the Black Sea.

      The agreement stayed in place until the following year, when Putin refused to extend it, saying that a parallel agreement promising to remove obstacles to Russian exports of food and fertiliser hadn't been honoured.

      “We had a grain corridor endeavour to open the path to peace,” Erdogan said, “Unfortunately we were only partially able to succeed. Tomorrow I will be asking Putin to revisit the endeavour.” Erdogan's new diplomatic push comes just days after he met with Zelenskyy in Ankara. (AP) RD RD

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